Nerve Repair and Regeneration Market Overview:

Global Nerve Repair and Regeneration Market was valued at $5,927 million in 2016, and is estimated to reach $13,938 million by 2023, growing at a CAGR of 13.0% from 2017 to 2023. The complex, delicate structures that make up the nervous system-the brain, spinal cord, and peripheral nerves-are susceptible to various types of injury ranging from trauma to neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis, multiple sclerosis, and multiple system atrophy. Peripheral nerves link your brain and spinal cord to the other parts of your body, such as your muscles and skin. These nerves are fragile and easily damaged, and hence can interfere with the brain's ability to communicate with muscles and organs. The nerve repair and regeneration products market includes biomaterials and neuro-stimulation & neuromodulation devices.

Increase in geriatric population, rise in prevalence of neurological & epidemic disorders, and launch of innovative products for nerve repair & regeneration are the major factors that drive the growth of the global nerve repair and regeneration market. However, stringent regulatory requirements for product approvals act as a restraining factor for the market growth. Increase in peripheral nerve injuries and neurological disorders and improvement in the healthcare facilities in Asia-Pacific provide growth opportunities for the market.

Segment Review

The global nerve repair and regeneration industry is segmented based on surgery, product, and geography. On the basis of surgery, the market is categorized into direct neuropathy, nerve grafting, neuromodulation surgery, and stem cell therapy. The neuromodulation surgery segment contributed the highest share in 2016, owing to the increase in patients suffering from neural disorders. Direct neuropathy is sub-segmented into epineural repair, perineural repair, and group fascicular repair. Nerve grafting is classified into autografts, allografts, and xenografts. Nerve modulation surgery is bifurcated into external and internal. By product, the market is categorized into biomaterials and neuromodulation surgery devices. Neuromodulation surgery devices contributed the highest share in 2016, owing to the wide range of product offering for nerve repair. Biomaterial is segmented into nerve conduits, nerve protectors, nerve wraps, and nerve connectors. Neuromodulation surgery devices is sub-segmented into external and internal. External is further segmented into transcutaneous electrical nerve stimulation and transcranial magnetic stimulation. Internal is classified into spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, and others.

Geographic Analysis

Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America held the leading position, owing to its well-developed healthcare industry, presence of leading medical diagnostics manufacturers, and rise in number of patients suffering from Alzheimer’s disease & other neurological disorders. However, Asia-Pacific is anticipated to grow at a highest rate with the increase in number of patients suffering from chronic diseases and rise in government initiatives for the improvement of healthcare facilities.Mexico is expected to grow at the highest CAGR during the forecast period, owing to developments in the healthcare facilities and the rise in number of patients requiring whole blood and blood components.

Key Benefits

The study provides an in-depth analysis of the global market and current trends & future estimations to elucidate the imminent investment pockets.

The report provides a quantitative analysis of the industry from 2016 to 2023 to enable the stakeholders to capitalize on the prevailing market opportunities.

Extensive analysis of the market based on surgeries and product elucidate various trends and prevailing opportunities across segments.

Key market players operating in the market are profiled to determine the competitive outlook of the market by studying different products of the companies and their developments.

3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry

3.4. MARKET SHARE ANALYSIS, 2016
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Increase in incidence of neurological diseases and peripheral nerve injuries in the geriatric population
3.5.1.2. Launch of innovative products for nerve repair & regeneration
3.5.1.3. Increase in government expenditure in healthcare sector and favorable reimbursement policies

3.5.2. Restraints

3.5.2.1. Lack of skilled professionals
3.5.2.2. High cost of the devices

3.5.3. Opportunities

3.5.3.1. Rise in expenditure on healthcare and emergence in developing countries
3.5.3.2. Growth in patient awareness for the use of nerve repair and regeneration

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The nervous system-comprising the brain, spinal cord, and peripheral nerves-is susceptible to various injuries ranging from trauma to neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis, multiple sclerosis, and multiple system atrophy. Alzheimer's disease is the major cause of dementia in older adults, with progressive loss of neurons.

Major factors that drive the growth of the global nerve repair and regeneration market include increase in geriatric population, rise in incidence of neurological & epidemic disorders, and launch of innovative products for nerve repair & regeneration. In addition, surge in R&D investment by leading players for the development of innovative products and growth in demand for nerve repair and regeneration products from emerging countries are expected to offer lucrative opportunities for the market growth.

According to the UN news center, global statistics show that 50 million people suffer from epilepsy, 62 million from cerebrovascular disease, 326 million from migraine, and 24 million from Alzheimer’s disease & other dementias, annually. According to the American Academy of Neurology, in 2008, stroke is ranked as the third leading cause of death in the U.S., whereas Alzheimer’s is ranked as the sixth leading cause of death. A total of 5.4 million Americans is currently diagnosed with Alzheimer’s disease. Parkinson’s disease affects 1 million Americans, with at least 60,000 new cases reported annually. Stroke patients seen by a neurologist (5.6%) are less likely to die during hospitalization than those seen by a non-neurologist (13.5%).